Swiss franc market on hold as investors wait for reassurance over peripheral economies
The spread of eurozone panic to Italy this week put the Swiss franc market on hold as investors and issuers waited for clarity from policy-makers on what the future might hold for peripheral economies. Only deals from domestic borrowers or driven by reverse enquiry were priced this week.
Investor demand was even more selective than usual or else completely absent. "Investors are only looking at familiar high quality borrowers," said the Credit Suisse banker. "All credit products are on hold even covered bonds would have struggled this week."
The Swiss government bond auction on Wednesday
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